Gold Is Bearishly Back Testing The Weekly Moving Averages
Right now we can clearly see that Gold has Double topped at the PCZ of a Multi-Year-Alternate-Bat Pattern and also formed a small Deep Gartley at the PCZ of the Alt-Bat which ended up forming a Clear Double Top at the 1.13 Extension.
Now after a Notable Decline Gold has retraced back to the Moving Averages which happen to align with what we would see as the Double Top Neckline and the 88.6% Fibonacci Retracement. If price can hold below these Averages we will likely see it make a move back towards the lows between $1,377 and $1,000
Now after a Notable Decline Gold has retraced back to the Moving Averages which happen to align with what we would see as the Double Top Neckline and the 88.6% Fibonacci Retracement. If price can hold below these Averages we will likely see it make a move back towards the lows between $1,377 and $1,000
